The winners of next month's World Test Championship (WTC) final between Australia and South Africa will take home $3.6 million following a significant increase in the prize money by the governing International Cricket Council on Thursday.
Holders Australia pocketed $1.6 million for winning the 2023 WTC final against India, who claimed $800,000 as runners-up.
The losers of the June 11-15 test at Lord's will get $2.1 million - more than the winners' purse in the last two WTC finals.
"The increase in prize money exhibits the ICC's efforts to prioritise test cricket as it looks to build on the momentum of the first three cycles of the nine-team competition," the ICC said in a statement.
Australia captain Pat Cummins said they were ready to overcome any challenge to retain their WTC title.
"We are enormously proud to have the opportunity to defend the World Test Championship, especially at Lord's," the paceman said.
"It's a testament to all those involved across the past two years who have worked incredibly hard to reach the final, which is a great honour for all of us."
Counterpart Temba Bavuma said South Africa were determined to win their maiden ICC title.
"Everyone understands the importance of test cricket, and the World Test Championship lends context to this vital format of the game.
"Lord's is a fitting venue for this mega fixture and all of us will be out there trying to give our best against Australia," Bavuma said.